Everence Capital Management Inc. Buys New Position in Linde PLC (LIN)
Everence Capital Management Inc. bought a new stake in Linde PLC (NYSE:LIN) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 14,135 shares of the basic materials company’s stock, valued at approximately $2,487,000.
A number of other hedge funds also recently bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Linde during the first quarter valued at about $29,000. Truvestments Capital LLC bought a new stake in shares of Linde during the first quarter valued at about $30,000. Harvest Group Wealth Management LLC bought a new stake in shares of Linde during the first quarter valued at about $31,000. Flagship Harbor Advisors LLC bought a new stake in shares of Linde during the fourth quarter valued at about $31,000. Finally, Sharkey Howes & Javer bought a new stake in shares of Linde during the fourth quarter valued at about $31,000. Institutional investors own 74.12% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Linde from a “sell” rating to a “hold” rating in a research note on Wednesday. ValuEngine cut shares of Linde from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. SunTrust Banks lifted their price objective on shares of Linde to $196.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. They noted that the move was a valuation call. Barclays lifted their price objective on shares of Linde from $180.00 to $195.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, BMO Capital Markets raised Linde from a “market perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a report on Monday. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. Linde currently has a consensus rating of “Buy” and a consensus target price of $193.73.
NYSE:LIN opened at $179.27 on Wednesday. The stock has a market cap of $97.69 billion, a P/E ratio of 28.28, a PEG ratio of 1.97 and a beta of 0.77. Linde PLC has a 52-week low of $145.95 and a 52-week high of $185.92. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.22.
Linde (NYSE:LIN) last released its earnings results on Friday, May 10th. The basic materials company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.15. The firm had revenue of $6.94 billion for the quarter, compared to analyst estimates of $7.03 billion. Linde had a return on equity of 14.95% and a net margin of 23.52%. Sell-side analysts anticipate that Linde PLC will post 6.86 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Friday, May 31st.
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Linde plc operates as an industrial gas company in North and South America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene. It also designs and constructs turnkey process plants, such as olefin, natural gas, air separation, and hydrogen and synthesis gas plants.
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